Tabor Asset Management LP Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Tabor Asset Management LP acquired a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 81,113 shares of the company's stock, valued at approximately $2,476,000. Tabor Asset Management LP owned approximately 0.57% of Surmodics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in Surmodics by 77.8% in the fourth quarter. Deutsche Bank AG now owns 42,683 shares of the company's stock valued at $1,690,000 after buying an additional 18,671 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Surmodics by 165.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,000 shares of the company's stock worth $1,188,000 after acquiring an additional 18,692 shares during the last quarter. Gardner Lewis Asset Management L P increased its holdings in Surmodics by 23.5% in the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company's stock worth $10,410,000 after purchasing an additional 49,944 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Surmodics by 40.9% during the fourth quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock valued at $278,000 after acquiring an additional 2,041 shares in the last quarter. Finally, DLD Asset Management LP bought a new stake in shares of Surmodics during the fourth quarter valued at approximately $2,514,000. 96.63% of the stock is owned by institutional investors and hedge funds.

Surmodics Price Performance

Shares of Surmodics stock traded down $0.41 during trading on Thursday, hitting $32.03. 49,521 shares of the stock traded hands, compared to its average volume of 164,379. The firm's fifty day moving average is $29.58 and its 200-day moving average is $31.02. The company has a quick ratio of 3.99, a current ratio of 5.14 and a debt-to-equity ratio of 0.27. Surmodics, Inc. has a 52 week low of $26.00 and a 52 week high of $41.88. The stock has a market cap of $458.03 million, a price-to-earnings ratio of -23.04 and a beta of 1.31.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Surmodics had a negative return on equity of 7.10% and a negative net margin of 16.34%. The company had revenue of $28.09 million for the quarter, compared to the consensus estimate of $32.23 million. Research analysts expect that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th.

Surmodics Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).